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Speaker 1: She's on the Money. She's on the Money.

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Speaker 2: Hello and welcome to She's on the Money, the podcast

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Speaker 2: for millennials who want financial freedom. This week on money Daries,

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Speaker 2: we speak to our nineteen year old super saver who

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Speaker 2: has a very very exciting money goal. So let's jump

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Speaker 2: straight in.

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Speaker 3: Our family was financially well off in my childhood, but

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Speaker 3: at two thousand and nine, my mum got a redundancy

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Speaker 3: and then cyclone yazy kid Queensland. Does that sound right yasy?

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Speaker 2: Yeah, that's right.

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Speaker 3: Yeah, and it wiped out our family's investment properties, leaving

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Speaker 3: us in seven hundred thousand dollars of debt.

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Speaker 2: Oh my god.

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Speaker 3: Yeah. The parents had to sell the family home. We

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Speaker 3: had the big Australian dream house, you know at the

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Speaker 3: pool at the back and that sort of thing, living

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Speaker 3: the sort of happily her after, if you will, and

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Speaker 3: they had to sell that a move into a place

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Speaker 3: that had three bedrooms, and there was five of them

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Speaker 3: in the family that had to move schools to the

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Speaker 3: public school and stuff. So their life just really changed

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Speaker 3: all of a sudden, and it really just changed her

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Speaker 3: sort of whole mindset on everything. Really. Her mum is

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Speaker 3: unwell also, so she's not able to keep working and

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Speaker 3: earning money. Oh how awful, But she says, now in

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Speaker 3: the good news. I was planning to go to Europe

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Speaker 3: last year, but COVID got in the way. But because

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Speaker 3: I had all this money saved up, I wanted the

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Speaker 3: money to kind of start doing well for me. So

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Speaker 3: I thought listening to She's on the money advice and

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Speaker 3: stuff like that. Since then, I now have a three

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Speaker 3: thousand dollar emergency fund tracked to have thirty thousand dollars

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Speaker 3: for twenty twenty two. When I go on exchange to.

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Speaker 2: Europe with you, she'll be great.

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Speaker 3: IM sitting at twelve thousand right now, so she's already ahead.

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Speaker 3: But the biggest achievement was when she bossed up big time,

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Speaker 3: and this is her words, bossed up big, tossed up

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Speaker 3: big time and left my insanely toxic and exploitive workplace.

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Speaker 3: And she stood up to her ex boss and was

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Speaker 3: brutally on it. She said, usually I don't want to

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Speaker 3: burn a bridge, but I was really being taking advantage

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Speaker 3: of I was a student, I was young. They knew that.

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Speaker 3: So she got a new job in September and she

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Speaker 3: was promoted within a month. The family is still in

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Speaker 3: considerable debt, but I feel good knowing that I'm not

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Speaker 3: contributing to it as much and the next year I

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Speaker 3: can actually lend a bit of a hand and help out,

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Speaker 3: she says. PS. Congratulations on the Smartest Podcast Award. Congratulations

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Speaker 3: to Victoria's new baby, Lucy. She knows there's the.

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Speaker 2: Dog right Yeah, like I mean questionable whether she's a dog.

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Speaker 3: Yeah. Congratulations Ryan on the kiss job or yay. A

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Speaker 3: lot's happened in her life. She's I feel years old

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Speaker 3: about to turn nineteen.

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Speaker 2: From when you get her on the phone.

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Speaker 3: Let's hello Cat speaking Hi Kat, this is Ryan, Victoria

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Speaker 3: and Georgia. How are you doing good?

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Speaker 2: How are you guys?

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Speaker 3: Good? Sorry, we're a little bit late calling.

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Speaker 4: To actually watch. And congrats girlfriends.

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Speaker 3: Oh what's the congrats? Are you engaged?

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Speaker 2: You keep bringing it up. It's now weird.

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Speaker 3: Like you know, Victoria just got back from the holidays

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Speaker 3: with their partner and they're not engaged.

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Speaker 2: All right, Let's jump straight in. What's your relationship with money?

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Speaker 4: Being like in the past, So for me, I a

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Speaker 4: big thing for me was having a bit of independence

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Speaker 4: through money. I didn't like relying on my parents, so

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Speaker 4: I actually got my first job, I guess you could say,

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Speaker 4: at thirteen, doing the local newspaper run gave me a

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Speaker 4: whopping fifteen dollars a week.

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Speaker 2: I respect that only fifteen dollars a week when you're

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Speaker 2: thirteen though thirteen, but like, can we please remember that? Sorry,

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Speaker 2: I'm pretty sure you're only eighteen, so wasn't that long

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Speaker 2: ago yet. It's a little bit of slave labor.

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Speaker 4: Just a little like it's fun.

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Speaker 2: Joe would have expected at least twenty bucks.

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Speaker 4: I know, but like, what can you do for.

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Speaker 2: Grand apologies jump unnecessarily again.

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Speaker 4: So yeah, from there, I got my first proper job

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Speaker 4: at fifteen, justacking at a supermarket, and then from there

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Speaker 4: until I sort of graduated high school, it was mostly

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Speaker 4: just week to week. I think I had at any

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Speaker 4: given time maybe like seven hundred bucks in my account

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Speaker 4: to save for my wonderful school's trip, and then it

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Speaker 4: was blown.

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Speaker 2: What do you do for work now? Obviously you don't

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Speaker 2: still have your paper route job, and how much do

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Speaker 2: you earn? And how much is currently in your bank account?

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Speaker 4: So in a moment, at the moment, I work as

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Speaker 4: a junior project coordinator at like a management consulting firm,

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Speaker 4: so it's part time because I'll be starting UNI this

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Speaker 4: year and I'm on a fifty five K salary post

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Speaker 4: super and we.

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Speaker 3: Heard it's a new job and you got promoted with

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Speaker 3: a month, so feel like you don't have to be humble.

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Speaker 3: We'll celebrate for you.

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Speaker 2: Yeah what a queen.

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Speaker 4: Yes, thanks guys.

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Speaker 2: That is epic though, because yeah, we'll get into it after.

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Speaker 2: I just think it's epik. I'll ask you the next question. So,

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Speaker 2: how much is currently sitting in your bank account right now?

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Speaker 4: At the moment? I have around nineteen K saved, which

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Speaker 4: includes a three K emergency funds that I don't touch.

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Speaker 2: So so so good. So what's your attitude to money

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Speaker 2: and what's currently your big money goal?

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Speaker 4: So my attitude at the moment is probably just to

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Speaker 4: save as much as I possibly can while I'm living

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Speaker 4: at home and I don't really have any overhead. I

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Speaker 4: like to definitely have a plan in place to budget

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Speaker 4: and to know what I'm going to save and invest

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Speaker 4: each month. And my big money goal is actually to

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Speaker 4: go to the UK on exchange in twenty twenty three.

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Speaker 2: That is a really big money goal. How much will

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Speaker 2: that money goal cost you in total?

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Speaker 4: Do you think I'm hoping to have about thirty k

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Speaker 4: saved for it. I think I will. I've actually lucky

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Speaker 4: to have citizenship over there, so I can't work there

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Speaker 4: and it's not too big different issue. But yeah, I'm

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Speaker 4: going to have hopefully thirty k and then whatever else

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Speaker 4: I can grape up before I leave.

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Speaker 2: So what's your attitude towards investing? Do you currently have

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Speaker 2: any investments?

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Speaker 4: I do. I currently have a share portfolio worth about

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Speaker 4: four and a half grand.

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Speaker 2: Is that an addition to your savings?

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Speaker 4: That is in addition?

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Speaker 2: Oh my gosh, and you're only eighteen?

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Speaker 4: Yes, I was super excited, gets queen. I did read

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Speaker 4: like the entire concept website from head to toe right

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Speaker 4: turned eighteen.

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Speaker 2: I really like their content. If you are looking for

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Speaker 2: info on it, I feel like they break it down

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Speaker 2: in a really great way. They essentially write in a

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Speaker 2: very blog style.

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Speaker 4: It's really easy to understating.

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Speaker 2: Yeah, yeah, so if you want a recommendation obviously not

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Speaker 2: paid by comseck, or if they want to pay me,

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Speaker 2: I wouldn't say no, I'll take the cash. But yeah,

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Speaker 2: the Comcex website, if you want to learn more about him,

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Speaker 2: is a really great place to head I'm not sure

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Speaker 2: if you do have debts, but what depths do you

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Speaker 2: currently have?

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Speaker 4: I have no debts at the moment, but obviously I

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Speaker 4: will accrue a hex step at the end of my

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Speaker 4: university degree.

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Speaker 2: Absolutely. And what is your best money habit?

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Speaker 4: I think just having a budget into it, so I

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Speaker 4: sort of go by a bit of the barefoot regime.

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Speaker 4: Having separate cards for my expenses and entertainment works really

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Speaker 4: well for me.

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Speaker 2: Awesome. And what would your worst money have it be?

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Speaker 4: I struggle to spend money on myself, so I kind

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Speaker 4: of feel guilty if I buy clothes or luxuries for myself,

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Speaker 4: But working on fitting it into my budget so hopefully soon.

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Speaker 2: And the last question that arguably one of my favorites.

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Speaker 2: What grade would you give yourself if I forced you

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Speaker 2: to give yourself a grade?

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Speaker 4: I think I'd give myself a beef. I think that

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Speaker 4: there's always things to learn and ways to improve, but

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Speaker 4: I feel like I've got the foundations downpacked.

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Speaker 2: You're listening to money diaries, all right, So that was

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Speaker 2: actually a really interesting money diary. But I guess one

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Speaker 2: of the first questions I've got for you is why

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Speaker 2: did you want to share your money Diary on our podcast.

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Speaker 4: I got so excited when I found this podcast, Like

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Speaker 4: I have literally recommended it to genuinely anyone who will

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Speaker 4: listen to me. Yes, And so I was like, I

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Speaker 4: saw Ryan's post in the group, and I was like,

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Speaker 4: you know what might as well, like why not give

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Speaker 4: it a shot?

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Speaker 3: Speaking which I the one thing that stood out to

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Speaker 3: me in what was a very busy email, because there's

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Speaker 3: a lot going on there. You said you bossed up

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Speaker 3: big time and left an insanely toxic and exploitive workplace.

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Speaker 3: Obviously don't go into too many details, but.

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Speaker 2: Now don't don't bry them under a.

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Speaker 3: Bus, but just how like, it's a lot easier said

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Speaker 3: than done to say, oh, just leave. I mean I

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Speaker 3: feel like in a lot of situations that's just the

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Speaker 3: easy throwaway line. But it's obviously not that easy. So

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Speaker 3: how did you sort of psych yourself up for getting

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Speaker 3: through that situation?

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Speaker 4: I actually have to credit it all to you guys. Literally,

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Speaker 4: I'd been thinking about it for a bit because there

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Speaker 4: was just a lot going on, and I was like,

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Speaker 4: I feel like I'm sort of not being treated properly.

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Speaker 4: I think I need to leave. And as soon as

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Speaker 4: I was thinking about it. You guys released the money

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Speaker 4: and mental health episodes, and I was like, that's it.

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Speaker 4: I'm out of here.

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Speaker 2: Oh my gosh, so good. We literally got you did

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Speaker 2: so obviously.

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Speaker 3: I mean you just said the topic was money and

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Speaker 3: mental health. I assume it was starting to affect more

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Speaker 3: than just your time at work. Is that fair to say?

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Speaker 4: Yeah? It was just like, honestly, there was no work

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Speaker 4: life balance. My employer was sort of the expectation was

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Speaker 4: that if I took the holiday or whatever, started to

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Speaker 4: be online and on my emails and replying, and it

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Speaker 4: just gross. Got to your point, Yeah, I know, and

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Speaker 4: I just thought that was normal. I was like, oh, yeah,

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Speaker 4: makes sense.

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Speaker 2: That is totally not normal. Like you are on holiday,

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Speaker 2: you are uncontactable, and that's why you actually have the

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Speaker 2: ability to put an out of office on your email exactly.

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Speaker 3: So tell me how did it feel after you know,

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Speaker 3: you left that day, Like, did you feel amazing after

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Speaker 3: you finally had that chat and really stood up for yourself.

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Speaker 4: Yes, I honestly, it was like a weight off my shoulders.

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Speaker 4: I didn't even bother to have anything lined up showed away.

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Speaker 4: I was like, I just need to get out, got

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Speaker 4: to do it for myself and it just felt so good.

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Speaker 3: I think we associate the emergency fund with if an

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Speaker 3: unexpected bill happens, or our car breaks down, or you know,

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Speaker 3: a health thing. But is an emergency fund maybe something

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Speaker 3: that can help pay the bills for a few weeks

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Speaker 3: when you're between jobs, because it's not healthy or helpful

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Speaker 3: for you to say that.

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Speaker 2: Absolutely, And this is something that I've actually written an

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Speaker 2: article on before, and I think that who was it,

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Speaker 2: I can't remember. Some media outlet picked it up and

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Speaker 2: it was one of my first articles, and I was

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Speaker 2: very proud of it. And essentially I don't swear, as

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Speaker 2: you guys probably already know, but I did call it

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Speaker 2: an if off fund, And for me, an emergency fund

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Speaker 2: is really important because you know, if you have an

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Speaker 2: unexpected cost come up, you can cover it. But I

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Speaker 2: also think that we should be having this emergency fund

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Speaker 2: so that we can essentially say f off to any

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Speaker 2: situation or place or person that we want to. So

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Speaker 2: whether that is we are in a relationship with a

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Speaker 2: toxic employer and we need to get out of that

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Speaker 2: and pay the bills for a couple of months. I

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Speaker 2: think that that emergency account is the reason it exists.

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Speaker 2: Like as much as it's not a you know, triple

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Speaker 2: zero emergency, it definitely is an emergency when it comes

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Speaker 2: to your mental health, and the same goes for personal

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Speaker 2: relationships or maybe you find yourself, you know, overseas on

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Speaker 2: holidays with friends and you're hating it. That's what your

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Speaker 2: fund is for. It is something that you know gives

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Speaker 2: you the power of choice, regardless of what that choice is.

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Speaker 2: And I think that that's the important thing about an

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Speaker 2: emergency fund.

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Speaker 3: And did you feel just having a little bit of

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Speaker 3: savings anyway it made you feel a bit freer to

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Speaker 3: make that decision?

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Speaker 4: Yeah? Absolutely, I was sort of like, I mean, obviously,

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Speaker 4: I'm very lucky to still be living at home. You know,

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Speaker 4: it wasn't going to cost me too much. But yeah,

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Speaker 4: I definitely felt a lot better. And I was really

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Speaker 4: really lucky that I actually did end up having something

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Speaker 4: lined up by the time my notice period is up.

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Speaker 2: Oh how good. I love stories like that. I mean,

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Speaker 2: it is a little bit silly of us to just

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Speaker 2: assume everyone has that grace. So there are probably going

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Speaker 2: to be a number of people listening to this who

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Speaker 2: aren't in a situation where they can just quit their jobs.

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Speaker 2: You know, you've been in a relationship with the toxic employer.

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Speaker 2: If you had to stick it out, what would you

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Speaker 2: say is your number one tip for people in that

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Speaker 2: situation right now who potentially can't just quit.

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Speaker 4: I think that probably the biggest thing that helped me

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Speaker 4: was just getting all my ducks in a row before

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Speaker 4: I left. So I obviously hadn't been thinking about it

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Speaker 4: for too long, but I just wanted to make sure

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Speaker 4: that I had an emergency fund to rely on if

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Speaker 4: I was out of a job for longer than I

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Speaker 4: had expected. I started doing pilates around that time, and

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Speaker 4: that was also a really good way to just sort

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Speaker 4: of switch off for a bit, So that really help me.

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Speaker 3: You mentioned in your email about the cyclone and the

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Speaker 3: property damage, and it really sort of changed a lot

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Speaker 3: about the finance of your family. Did that change or

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Speaker 3: teach you anything about making money, losing money, how important

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Speaker 3: money is or isn't. Did that kind of impact you

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Speaker 3: at all? Because you're obviously quite financially savvy now, How

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Speaker 3: much of an impact did that have when you were younger?

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Speaker 4: Absolutely? I mean, obviously this happened or when I think

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Speaker 4: I was like ten years old, so didn't have a

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Speaker 4: whole lot of cash to blush around in, but it

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Speaker 4: just made me sort of realize that things can go

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Speaker 4: like they can. You can get a full whint eighty

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Speaker 4: done on you pretty easily. But it definitely taught me

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Speaker 4: the importance of money. And I think that when I

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Speaker 4: was sort of reading Barefoot and listening to you guys,

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Speaker 4: hearing about the idea of having an emergency fund just

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Speaker 4: made so much sense to me. So having that in

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Speaker 4: place and just yeah, I think it definitely impacted the

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Speaker 4: way that I look at it because it made me

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Speaker 4: so much more aware of how things can just flip.

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Speaker 4: But made me a lot more grateful for the money

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Speaker 4: that I do get, and you know, it makes me

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Speaker 4: want to work a lot harder so that I can

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Speaker 4: be in a good financially secure position.

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Speaker 3: I'm really curious to know what you're studying and what

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Speaker 3: you plan to do with your career, because considering you're

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Speaker 3: eighteen years old, you sound incredibly mature and switched on

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Speaker 3: and driven and from.

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Speaker 2: Years I do believe what are you studying.

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Speaker 3: I'm so curious just to know everything about this situation.

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Speaker 4: I am studying business and creative intelligence.

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Speaker 2: That you hear of course she is that robots probably

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Speaker 2: not robots.

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Speaker 4: No. Literally, everyone asks me, they're like, are you an AI?

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Speaker 2: Like, no, That's what I'm thinking.

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Speaker 3: So what's creative intelligence?

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Speaker 4: That is a good question. I'll get back to you

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Speaker 4: in six months. I've gone there.

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Speaker 2: You're literally doing a degree just so you can confuse us.

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Speaker 2: I love it.

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Speaker 4: It's just it looks really fun. I think it's sort

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Speaker 4: of like problem solving in different ways of looking at

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Speaker 4: business issues.

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Speaker 2: Yeah, kind of thing.

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Speaker 4: So that sounds really interesting, but I might hate it.

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Speaker 2: Who knows upon she's on the money in six months.

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Speaker 2: In an interview money diary with a creative intelligence studyer,

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Speaker 2: you said.

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Speaker 3: That you had a bit of trouble allowing yourself to

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Speaker 3: spend money, and that's been such a common theme with

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Speaker 3: a lot of our money diarists. You've said a few times,

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Speaker 3: I'm saving up because I want to go in exchange,

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Speaker 3: I'm saving up because I want to go to Europe.

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Speaker 3: It seems like a big blowout of I'm going to

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Speaker 3: be really really frugal until this big sort of travel opportunity.

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Speaker 3: Tell us a little bit about your mindset towards that.

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Speaker 4: Definitely, knowing that I have got this big money goal

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Speaker 4: that I want to work towards is sort of has

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Speaker 4: impacted for sure, the way that I see spending money

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Speaker 4: on myself. It has gotten a lot better. Like I

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Speaker 4: obviously spoke to my therapist about it, and she was like,

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Speaker 4: this is getting out of hands. You need to buy

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Speaker 4: that pair of jeans. Come on, yeah, welcome to me.

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Speaker 4: That would be shoes.

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Speaker 2: Obviously I feel attacked.

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Speaker 4: So yeah, I think even I was thinking about it

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Speaker 4: today and I think COVID also just realizing how quick

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Speaker 4: you can sort of lose everything or a lot of stuff. Yeah,

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Speaker 4: I think through COVID, knowing that people have lost their

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Speaker 4: jobs and that everything can fall apart pretty quickly, it

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Speaker 4: feels silly to spend money on things that aren't necessary

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Speaker 4: and that aren't completely essential. But yeah, I think it's

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Speaker 4: just something that I've got to work on. But I've

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Speaker 4: definitely gotten better having the two separate cards.

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Speaker 3: Now, what's something considering we've got Victoria Devine? What's one

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Speaker 3: of your nicknames for v Sorry to put.

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Speaker 2: You on swig of forarder.

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Speaker 3: Sorry, guys, I just asked question.

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Speaker 2: I'm all right with Georgia not being able to be.

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Speaker 3: One of the explainers of her title.

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Speaker 2: Oh okay, so like money Millennial money Wizards extraordinary? Can

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Speaker 2: I go to the A f A about that? I'll

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Speaker 2: just go straight to the AFA and be like, Hello, yes,

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Speaker 2: I know that I can be accredited. I'd like to

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Speaker 2: be officially a money with it.

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Speaker 3: Yeah, money diar is considering you do have the millennial

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Speaker 3: money Wizard chatting to you. Now, what's one thing that

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Speaker 3: you maybe want to learn more about over the next

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Speaker 3: few years, as you know, continue your money journey.

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Speaker 4: I think, to be honest, it's just quite niche. And

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Speaker 4: I know that it was actually brought up in the

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Speaker 4: Facebook group really recently. But the whole idea of looking

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Speaker 4: at Victoria's career I think is super interesting.

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Speaker 2: Oh my god.

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Speaker 4: You didn't think that people found it interesting?

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Speaker 3: Really? Really?

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Speaker 2: Don't YouTube video coming? I doesn't know that YouTube video

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Speaker 2: coming soon. Oh my gosh. I just didn't think anyone

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Speaker 2: was that interested. It's kind of been so what would

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Speaker 2: you say, like here, there, everywhere jagged? I clearly didn't know. Yeah,

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Speaker 2: very nonlinear and just if you want to be a

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Speaker 2: financial advisor, the way I've done it is absolutely not

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Speaker 2: the way. I definitely went the long way. But in

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Speaker 2: saying that, I'm very grateful for the experiences that I

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Speaker 2: have had because I do genuinely think it has made

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Speaker 2: Cheese on the money what it is because I do

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Speaker 2: have in the background two degrees in psychology. Both of

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Speaker 2: those really play into every single thing that we do here.

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Speaker 2: But yeah, all right, maybe, given we've got a money

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Speaker 2: direst asking for I'll do that YouTube video that just

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Speaker 2: told me I had to watch this space. Friends.

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Speaker 3: It feels really strange to say this because you know,

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Speaker 3: we don't really know you. I've only just met you.

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Speaker 3: But I feel like I'm proud of you. I feel

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Speaker 3: like I'm a proud I'm too.

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Speaker 2: Are you allowed to adopt Sibley?

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Speaker 4: Like?

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Speaker 2: Am I allowed to do that? Am I allowed to be?

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Speaker 4: Like?

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Speaker 2: Okay, Caol, So these are all my sisters and these

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Speaker 2: are all my brothers.

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Speaker 3: If you did that with the community, though you have

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Speaker 3: very very expensive on a Christmas Day, I don't do presence.

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Speaker 2: We need to find a religion where we don't do presents.

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Speaker 3: But congratulations on what you've achieved in it. A few

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Speaker 3: of the decisions you've made, because it seems like there's

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Speaker 3: been a couple of setbacks, we've handled it really well

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Speaker 3: and Like I said, I look forward to a seeing

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Speaker 3: how it pans out for you and b finding out

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Speaker 3: what creative intelligence actually means.

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Speaker 2: Yeah, I love that. Thank you so much for jumping

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Speaker 2: on with us. It has been so interesting to learn

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Speaker 2: more about you and I have absolutely no doubt you

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Speaker 2: are going to kill it financially in the foreseeable future.

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Speaker 4: Thank you guys for having me.

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Speaker 2: Now, just before we head off, we'd like to acknowledge

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Speaker 2: and pay respects to Australians, Aboriginal and torrest Right islander peoples,

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Speaker 2: the traditional Custordians of the lands, the waterways and the

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Speaker 2: skies all across Australia. We thank you for caring and

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Speaker 2: for sharing on the land which we are able to learn.

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Speaker 2: We pay our respects to elders past and present, and

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Speaker 2: we share our friendship and our kindness. Now, guys, keep

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Speaker 2: in mind that the advice shared on She's on the

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Speaker 2: Money is general in nature and does not consider your

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Speaker 2: individual circumstances. She's on the Money exists purely for educational

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Speaker 2: purposes and should not be relied upon to make an

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Speaker 2: investment or a financial decision. And we do promise I

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Speaker 2: am actually an authorized representative of Australia Pacific Funds Management

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Speaker 2: Proprietary Limited ABN three four one three two four six

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Speaker 2: three two five seven AFOSL three three eight nine one

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Speaker 2: five one And again thanks to Ryan John and to Beek,

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Speaker 2: our producing legends who whip this show into the show

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Speaker 2: that it is.

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Speaker 3: Yep. If you've got a great story that you think

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00:20:57,240 --> 00:21:00,240
Speaker 3: the community would appreciate, send me in email Ryan dot

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00:21:00,280 --> 00:21:02,160
Speaker 3: John at She's on the Money dot com dot au

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Speaker 3: and maybe you or someone you know can be on

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Speaker 3: an episode in the future.

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Speaker 2: Thanks for joining friends, See you next week.